Colorado vs Washington
Property‑Tax Comparison: Colorado vs. Washington
Intro
Both Colorado and Washington rank among the higher‑cost housing markets in the United States, but they differ noticeably in how property taxes are assessed. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), Colorado’s effective property‑tax rate is lower than Washington’s, resulting in smaller annual tax bills for comparable home values.
Side‑by‑Side Metrics
| Metric | Colorado | Washington |
|---|---|---|
| Effective property‑tax rate | 0.49 % | 0.84 % |
| Median home value | $502,200 | $519,800 |
| Median annual property tax | $2,448 | $4,361 |
| Tax on a $250,000 home | $1,219 | $2,098 |
| Tax on a $500,000 home | $2,438 | $4,195 |
| Median household income | $92,470 | $94,952 |
| Internal link | Colorado property tax | Washington property tax |
All figures are from the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).
Which State “Wins” on Property Tax
Winner (lower tax rate): Colorado
- Rate difference: 0.35 % points, which translates to a 41.90 % lower effective rate in Colorado compared with Washington.
- Annual tax difference for a $250 k home: $2,098 – $1,219 = $879 lower in Colorado.
- Annual tax difference for a $500 k home: $4,195 – $2,438 = $1,757 lower in Colorado.
Based on the lower effective property‑tax rate, Colorado imposes less tax liability on homeowners for a given property value.
Who May Benefit Most from This Comparison
| Audience | Relevance of the Data |
|---|---|
| Current homeowners | The lower rate in Colorado means a smaller annual property‑tax bill for the same home value, affecting cash‑flow and budgeting. |
| Prospective homebuyers | Buyers comparing purchase costs can use the tax figures to estimate total housing expenses in each state. |
| Retirees | Since property taxes are a recurring expense, a lower rate can help stretch fixed incomes, especially when home values are high. |
| Investors | The tax differential influences net operating income and overall return on investment for rental properties. |
| Policy analysts | The contrast illustrates how state‑level tax structures affect household finances across comparable median incomes. |
The comparison is factual and does not imply any qualitative judgment about overall cost of living, services, or quality of life in either state.
Sources
- U.S. Census Bureau, 2023 American Community Survey (5‑year estimates) – property‑tax rates, median home values, median household incomes, and calculated tax amounts.
All calculations are derived directly from the ACS figures cited above.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.